Alonedevils
Master Sergeant
- Messages
- 316
Hello .. How About Your Case ?
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Problem Pepperstone cancelled my trades
- Thread starter sgalizia
- Start date
-
- Tags
- pepperstone snb
I am having an issue with a company
Bro
I have understood the game of all brokers whether ECN or STP or Marketmaker. Now Pepperstone claims negative account protection but happens is the movements in price are so fast in milliseconds that they software does not give margin call as per their system and many clients end up with negative account balances. Now they need to pay to LP for the negative account balance as those clients won't pay anything to Pepperstone so what they do is try to rob the clients who made money during this crisis be being on the right side of the trades and try to use those profits to pay to LP for the negative balance clients.
Not fair at all and one needs to fight it out and knowing ASIC they will do justice to you. Only issue is this whole regulator thing is time consuming and can take over 6 months or more but it is worth. Keep fighting we all are with you.
regards
balaji
Alonedevils
Master Sergeant
- Messages
- 316
Yes, i know about regulatory time processing with case..
i just want to know updates from thread starter, and i see him/she last online is about 2 month ago ..
Sorry guys, i just received notification about new post. The story ended, of course, with the regulatory saying "Is not our area of competence"... very sad... so i think forex is not a fair game and decided to give up.
qitiandasheng
Private, 1st Class
- Messages
- 59
Yeah, unfair always there, and only people who willing to fighting will get real right. We all are with you.
Very sad response from ASIC. A lawsuit is what needs to happen now if you are up to it. I feel sorry for what has happened to you that is not right...
Yorex
Recruit
- Messages
- 1
Hi, I have the same experience with the negative protection balance from Pepperstone during GBP Flash Crash this October... I want to complain them to ASIC but reading the verdict and reply form ASIC feels me unsecure to trade more further in Pepperstone. They ask me to pay 20% of my negative balance to of my 3 accnts. I attach the image of my negatives for your reference and review. Its hard for me to pay those amount.
I really seek an expert advice in the matter.
Attachments
FxMaster
Colonel
- Messages
- 12,253
I understand it that STP broker sends all trades to the liquidity (bank, prime broker, whatever) and they are the market maker. Because of the extra time to send trades to the liquidity, the execution can be slower, something like 150 milliseconds I think is normal for STP, but market maker broker probably around 15 milliseonds.
Then there is slippage because of delays or the fact market doesn't go in sequence, and because most scalping strategies work on fast execution, the broker is blamed for scamming, delaying or are called market makers, when the real issue is your scaling system is not good enough, or will only work on market maker.
I've tried many systems that are like that, but in the real world, you cannot have a market maker that will accept profitable scalping, arbitrage or news trading, it just doesn't work like that
Then there is slippage because of delays or the fact market doesn't go in sequence, and because most scalping strategies work on fast execution, the broker is blamed for scamming, delaying or are called market makers, when the real issue is your scaling system is not good enough, or will only work on market maker.
I've tried many systems that are like that, but in the real world, you cannot have a market maker that will accept profitable scalping, arbitrage or news trading, it just doesn't work like that
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